One of the core components of a functional estate plan is the selection of beneficiaries. Often, you will choose people you care about to acquire your assets. As your life progresses, you may want to change who you have previously named as a beneficiary. Because your...
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Should you tell your family about your estate plan?
Your estate plan likely contains private information regarding your finances, investments and legacy. While you do not want to share this information without boundaries, you may want to inform those close to you of your intentions. Understanding the value of talking...
How often should you update your will?
It is not enough to be among the roughly 30% of Americans who have a will or estate plan in place. For the courts to consider your will or estate plan appropriate or even valid, it must align with your current familial situation and goals. For it to do this, you must...
Handling Florida probate from another state
When you agree to serve as the personal representative for a family member who lives in Florida, you must navigate the state's probate process even if you reside elsewhere. The court where your relative lived will supervise the process of distributing estate assets...
How should you prepare for estate taxes?
A common assumption amongst many of those engaged in the estate planning process in Florida is that there is nothing one can do to avoid the potential for estate taxes. Yet if you share the same belief, you should know that may not be the case. First and foremost,...
Advanced medical directives for living wills
Living wills provide people the means to dictate how the medical world approaches their life, whether it is in crisis or not. Without directives from a living will, healthcare professionals have a default procedure to fall back on that may not fit with a person's...
How can siblings assist elderly parents with an estate plan?
As your parents age, it is likely difficult for you and your siblings to consider the future without them, and this often leads to a lack of discussion regarding an estate plan. However, the American Association of Retired Persons reports that the division of assets...
Who is involved in the probate process?
When an individual passes away, his or her relatives usually take on the duty of wrapping up final affairs, canceling services that are no longer needed and, most importantly, seeing to matters listed in the decedent's will. One action that is often necessary is...
What does it mean to fund a living trust?
A living trust provides more control over your assets and the process for dispersing them after you are gone. It also helps avoid probate, because the trust will own your assets going forward. According to Kiplinger, many estate planners forget to fund their trusts....
Get the facts behind 4 estate planning myths
Misinformation can result in complications when planning your estate. Before you start the process of drafting a will, reviewing these common myths can help inform smart choices for your finances. These are the facts behind four often-repeated estate-planning...